Stifel Nicolaus Has Lowered Expectations for Helios Technologies (NASDAQ:HLIO) Stock Price

Helios Technologies (NASDAQ:HLIO) had its target price cut by equities research analysts at Stifel Nicolaus from $60.00 to $58.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 41.12% from the company’s previous close.

Helios Technologies Stock Performance

NASDAQ:HLIO opened at $41.10 on Wednesday. The stock has a 50-day moving average price of $43.79 and a 200 day moving average price of $46.16. The company has a current ratio of 3.03, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. Helios Technologies has a 12-month low of $38.52 and a 12-month high of $57.29. The stock has a market capitalization of $1.37 billion, a P/E ratio of 36.75 and a beta of 0.87.

Helios Technologies announced that its Board of Directors has initiated a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HLIO. Signaturefd LLC grew its stake in shares of Helios Technologies by 71.8% in the 4th quarter. Signaturefd LLC now owns 687 shares of the company’s stock worth $31,000 after buying an additional 287 shares in the last quarter. Aquatic Capital Management LLC raised its holdings in Helios Technologies by 148.8% during the 4th quarter. Aquatic Capital Management LLC now owns 3,732 shares of the company’s stock valued at $167,000 after buying an additional 2,232 shares during the period. Truvestments Capital LLC purchased a new position in shares of Helios Technologies during the 3rd quarter worth about $179,000. Stephens Inc. AR purchased a new position in Helios Technologies during the 3rd quarter valued at $205,000. Finally, Intech Investment Management LLC bought a new position in Helios Technologies in the 3rd quarter valued at $224,000. 94.72% of the stock is currently owned by institutional investors.

About Helios Technologies

Helios Technologies, Inc, together with its subsidiaries, provides engineered motion control and electronic control technology solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Hydraulics and Electronics. The Hydraulics segment offers cartridge valve technology products to control rates and direction of fluid flow, and to regulate and control pressures for industrial and mobile applications; hydraulic quick release coupling solutions for the agriculture, construction equipment, and industrial markets; motion control technology and fluid conveyance technology; cartridge valve technology; engineered solutions for machine users, manufacturers, or designers.